BP Wealth launches India's first subscription-based retail brokerage app Stoxbox
The new app works on a subscription basis for a user and eliminates the need to pay additional brokerage on trading in stocks
Mumbai Wealth management firm BP Wealth has entered into B2C retail digital broking industry with the launch of Stoxbox application. Stoxbox was built to make investing easier for individual investors where the growth trajectory of the Indian domestic market makes it such an alluring option, and the only way to profit from it is to invest in equities.
Yuvraj A Thakker, MD, Stoxbox, said: "We saw the problem that solid investing advice is difficult to come by. When investors accept recommendations from social media groups or watch specific YouTube videos, they run the risk of losing money. The recklessness caused by faulty counsel is just as harmful as the recklessness caused by ignorance. We concluded that competent counsel is just too expensive to obtain, so we developed a subscription pricing model that does not include brokerage costs to save on brokerages and provide advice in the form of professionally curated ready-made portfolios and thematic investing."
Thakker further added, "Enhancing digital strategy to more effectively harvest data helps increase market penetration, which is how we branched out into verticals like advisory portfolio management, non-banking financial spectrum, and fin-tech by leveraging our technology, but it's important to remember that services and products must be more personalised to cater to financial needs of segments to support your revenue streams and maintain customer centricity."
Stoxbox, attempts to simplify investing for investors thorough reputable research capable of producing impressive research reports. Stoxbox works on a subscription basis, which starts at Rs 499 per month for a user and eliminates the need for the investor to pay additional brokerage on trading in Equity, Delivery, F&O, Currency, Commodity, Mutual Funds, Ready-made Portfolios, Trading Calls, and a variety of other services. Stoxbox is available on Google Playstore and Apple App Store.